Regulatory Alerts2005-09-30 | ISGC-2005-013-DOBAdded · Updated
Washington State Department of Financial Institutions Guidance on Contemporaneous Use of Official Charter and Assumed Business Names
The Washington State Department of Financial Institutions issued this guidance to permit ABC Bank to operate branches under the assumed name XYZ Bank following a merger. The regulator mandates strict identification standards to prevent customer confusion regarding the single legal entity and FDIC insurance coverage. Conditions include clear signage, specific advertising disclosures, maintaining official state registration, and using the charter name in all legal documents.
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